6/19, 10:00 PM (Source: TeleTrader)
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US markets rise modestly on close as Fed holds rates

Wall Street ended the trading session on Wednesday in the green after the Federal Reserve announced it is keeping the interest rates unchanged at the 2.25%-2.5%. Only one out of 10 FOMC members voted for a rate cut. The central bank also did not signal any rate cuts until the end of 2019, however, Chairman Jerome Powell stated that the case for a more accommodative policy has strengthened since the last meeting in May due to rising risks related to global growth and trade uncertainties, as well as the weaker sentiment in business and financial markets.

The Dow Jones Industrial Average index added 0.15% at the start. The best performer was UnitedHealth, followed by Walt Disney, climbing 1.83% and 1.21%, respectively. The Nasdaq 100 was up by 0.42% at the closing bell, as Adobe outperformed others and closed just below its new all-time high which it reached shortly before the markets closed. The computer software company reported a 25% rise in revenue yesterday.

the S&P 500 increased by 0.30%, pulled up by pharma giant Allergan and health company IQVIA Holdings.

The euro advanced 0.30% against the dollar at 4:00 pm ET, buying $1.12280.

Breaking the News / NI